AfterDawn: Tech news

Napster files for Chapter 11

Written by Petteri Pyyny @ 03 Jun 2002 12:02 User comments (2)

Napster has filed, as everyone already expected after it sold its assets to German Bertelsmann, for Chapter 11 of the U.S. Bankruptcy Code.
The decision doesn't mean that company has vanished, but instead it gives company protection from its creditors until company restructures. Its assets were valued at $7.9M and it has liabilities of over $100M, including hefty bill to its attorneys caused by the lengthy war against RIAA and music companies which began in late 1999.

Source: News.com

Previous Next  

2 user comments

14.6.2002 04:22

Pooooo..... Pity too because when they were a going concern, I downloaded 108 full albums (some on pressed vinyl, never released on cd), and 323 individual singles. --K.A.--

27.6.2002 09:56
butch
Inactive

with napster it was good,because i found old music that i wanted,cant buy them any more.

Comments have been disabled for this article.

Latest news

Roomba Combo j7+ review - Clever trick allows robot vacuum finally to tackle home with rugs and carpets Roomba Combo j7+ review - Clever trick allows robot vacuum finally to tackle home with rugs and carpets (06 Jun 2023 9:19)
Roomba Combo j7+ is the very first Roomba model to combine robot vacuum with mopping features. And Roomba Combo j7+ does all that with a very clever trick, which tackles the problem with mopping and carpets. But is it any good? We found out.
Neato, the robot vacuum company, ends its operations Neato, the robot vacuum company, ends its operations (02 May 2023 3:38)
Neato Robotics has ceased its operations. American robot vacuum pioneer founded in 2005 has finally called it quits and company will cease its operations and sales. Only a skeleton crew will remain who will keep the servers running until 2028.
5 user comments
How to Send Messages to Yourself on WhatsApp How to Send Messages to Yourself on WhatsApp (20 Mar 2023 1:25)
The world's most popular messaging platform, Meta-owned WhatsApp has enabled sending messages to yourself. While at first, this might seem like an odd feature, it can be very useful in a lot of situations. ....
18 user comments
How to Enable Bluetooth on Stadia Controller How to Enable Bluetooth on Stadia Controller (11 Feb 2023 1:04)
Google shut down its streaming game service Stadia late last month and this means that some people have Stadia controllers lying around that seem to be of no use. That is fortunately not the ....
2 user comments
Guide: How to Kick Unwanted Guests from Your Netflix Account Guide: How to Kick Unwanted Guests from Your Netflix Account (26 Jan 2023 2:14)
Sharing a Netflix account with a person in a different location is possible and indeed very common, although the company doesn't necessarily enjoy this behavior from their customers. However, ....

News archive